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Economics Basics

Authored by Sara Cruea

Social Studies

6th Grade

8 Questions

Used 5+ times

Economics Basics
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1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Having a limited quantity of resources to meet unlimited wants

economics

scarcity

supply

producer

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The amount of a good or service that is available for use

Scarcity

Economics

Supply

Producers

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

A factor that encourages people to act in a certain way

Incentive

Producers

Consumers

Supply

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The study of how people meet their wants and needs

Economics

Scarcity

Incentive

Consumers

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The cost of what you have to give up

Demand

Economics

Incentive

Opportunity Cost

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The desire for a certain good or service

Producers

Supply

Demand

Incentive

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

People or businesses that make and sell products

Producers

Consumers

Supply

Demand

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